Municipal Currency Systems

Recent advances in blockchain technology, the same basic technology used by Bitcoin, enable governments of all types to create their own currency and financial systems. The governments of Tunisia and Senegal are already using blockchain-based national currencies and the banking establishment is using blockchains to revolutionize how money flows across borders.

Municipalities could use the blockchain to create their own currencies backed by their assets and tax revenue. The benefits of creating their own “crypto-banks” are many: more revenue for operations, more resilient local economics, less reliance on federal economic policies and monetary mechanisms and more capabilities when it comes to interacting with global finance.